Cloud consulting firm CloudThat eyes GIFT City's first-ever listing with $8 mn IPO

Bengaluru-based cloud consulting firm CloudThat is preparing to raise about $8 million through an IPO, aiming to become the first company to list on GIFT City exchanges. The firm reported revenue of ₹120 crore in FY25, up from ₹76 crore in FY24, with PAT rising to ₹9.6 crore from ₹2.87 crore, and provisional FY26 revenue of ₹210 crore. It plans to use proceeds for acquisitions, international expansion, and cloud consulting growth, providing services to Microsoft, Amazon, and Google, with a possible future Indian exchange listing once the dual-listing framework is operational.